Veeva Systems Inc.NYSE
Medidata: Why We Went Long And Why IBM Might Acquire It
Veeva: Why We Went Long Our Former Favorite Short
Wed, Nov. 23, 3:00 PM
Wed, Nov. 23, 11:50 AM
- Yesterday: Veeva Systems +6.35%; Q3 results, outlook encouraging
- J.P. Morgan moves from $45 to $50, Canaccord Genuity from $46 to $48 while maintaining respective Overweight and Buy ratings. On the strong reporting, Veeva Systems' (NYSE:VEEV) shares are trading at 9.2% gains to $45.39.
- Earnings call transcript
Wed, Nov. 23, 9:16 AM| Wed, Nov. 23, 9:16 AM | 3 Comments
Tue, Nov. 22, 5:38 PM
Tue, Nov. 22, 5:36 PM
- Results – revenue $142.8M (+33.6% Y/Y, $7.13M above estimates), EPS $0.22 ($0.06 above estimates), operating income $47.5M (+69% Y/Y), net income $31.7M (+88% Y/Y)
- Segment revenues – Subscription services $113.575M (vs. $81.736M Y/Y), Professional services and other $29.204M (vs. $25.185M Y/Y)
- Q4 projections – revenue $145M-$146M (consensus $140.37M), operating income $40M-$41M, EPS $0.17 (consensus $0.15)
- FY 2017 projections – revenue $538.9M-$539.9M (consensus $526.8M), operating income $153.7M-$154.7M, EPS $0.68 (consensus $0.63)
- Veeva Systems (NYSE:VEEV) CEO Peter Gassner: "Our ability to execute across multiple large markets, along with a track record of bringing real cloud innovation and a commitment to the customer, is fundamental to our model. This cycle of customer success and our expanding portfolio of cloud solutions fueled strong performance in the quarter and positions us well for continued expansion."
- Prior quarters overview
- Conference call
- Press release
Tue, Nov. 22, 4:10 PM
Mon, Nov. 21, 5:35 PM
Tue, Oct. 18, 10:06 PM
- Among a cache of Colin Powell emails released by hackers was a presentation prepared in May for the Salesforce.com (NYSE:CRM) board (on which sits Powell) titled "M&A Target Review."
- Partial presentation slides
- The 60-slide document identified 14 possible acquisition targets. Among them were Adobe Systems (NASDAQ:ADBE), whose market cap of $53.7B is above that of Salesforce, and Pegasystems (NASDAQ:PEGA), with a $2.3B valuation.
- The list also included Demandware, which Salesforce ended up buying, and LinkedIn, which the company lost in a bidding war with Microsoft.
- Others: Workday (NYSE:WDAY), ServiceNow (NYSE:NOW), NetSuite (NYSE:N), Tableau (NYSE:DATA), Veeva Systems (NYSE:VEEV), BOX, Zendesk (NYSE:ZEN), HubSpot (NYSE:HUBS).
- CEO Marc Benioff earlier this month when fending off complaints about his interest in Twitter: “We look at a lot of things and we pass on almost everything."
Wed, Aug. 31, 9:15 AM
Tue, Aug. 30, 5:37 PM
Tue, Aug. 30, 4:34 PM
- Operating income increased 28% Y/Y to $36.7M, net income increased 23% Y/Y to $22.3M.
- Projects Q3 revenue of $134.5M-$136M, operating income of $36.5M-$37.5M and fully diluted net income per share of $0.15-$0.16. Updates FY 2017 projections for revenue to $525M-$528M, operating income to $138M-$140M and fully diluted net income per share to $0.60-$0.61.
- Veeva Systems (NYSE:VEEV) CEO Peter Gassner: “We're bringing new industry cloud solutions to market at a rapid pace to address significant customer needs with great cloud technology and truly unified systems. It’s this innovation and proven track record of customer success that’s fueling our outperformance and sets us up for a long runway of growth into the future."
- Conference call
- Press release
Tue, Aug. 30, 4:06 PM
Mon, Aug. 29, 5:35 PM
Fri, May 27, 9:12 AM
Thu, May 26, 6:41 PM
- Veeva Systems (NYSE:VEEV) is up 9.2% after hours, quoting at what would be an easy 52-week high, following Q1 earnings where it beat on top and bottom lines and guided above consensus for upcoming revenues.
- Bread-and-butter subscription revenues were particularly strong. "Simply outstanding execution by the team and strength in every one of our markets — across Commercial Cloud and Vault — contributed to a fantastic first quarter,” said CEO Peter Gassner.
- Revenue breakout: Subscription services, $96M (up 39.4%); Professional services and other, $23.7M (up 12.9%).
- Cash and equivalents grew by $113.8M, leaving the total by quarter's end at $245.9M.
- For Q2, the company's guiding to revenues of $125.5M-$127M (vs. consensus $123.2M) and EPS of $0.13 (in line). It's updating guidance for the full year, forecasting revenues of $516M-$520M (above consensus for $512.2M) and EPS of $0.55-$0.57 (vs. $0.55 expected).
Thu, May 26, 5:39 PM